What happened after...?
How many...?
Who was it that...?
Can you name the...?
Describe what happened at...? Who spoke to...?
Can you tell why...?
Find the meaning of...?
What is...?
Which is true or false...?

• Can you write in your own words...?
• Can you write a brief outline...? • What do you think could of happened next...?
• Who do you think...?
• What was the main idea...? • Who was the key character...? • Can you distinguish between...? • What differences exist between...? • Can you provide an example of what you mean...? • Can you provide a definition for...?

Applying
Useful Verbs

Sample Question Stems

Generalize
Infer
Show
Use

• Do you know another instance where...?
• Could this have happened in...?
• Can you group by characteristics such as...? • What factors would you change if...?
• Can you apply the method used to some experience of your own...? • What questions would you ask of...?
• From the information given, can you develop a set of instructions about...? • Would this information be useful if you had a ...?

Analyzing
Useful Verbs

Sample Question Stems

Distinguish
Select
Arrange
Organize
Outline

• Which events could have happened...? • If ... happened, what might the ending have been?
• How was this similar to...?
• What was the underlying theme of...?
• What do you see as other possible outcomes?
• Why did ... changes occur?
• Can you compare your ... with that presented in...?
• Can you explain what must have happened when...? • How is ... similar to...?
• What are some…...

...Chapter 01
What is Statistics?
True / False Questions
1. A population is a collection of all individuals, objects, or measurements of interest.
True False
2. A sample is a portion or part of the population of interest.
True False
3. To infer something about a population, we usually take a sample from the population.
True False
4. The techniques used to find out something about a population, such as their average weight, based on a sample are referred to as descriptive statistics.
True False
5. There are four levels of measurement-qualitative, quantitative, discrete, and continuous.
True False
6. The ordinal level of measurement is considered the "lowest" level of measurement.
True False
7. A store asks shoppers for their zip code to identify market areas. Zip codes are an example of ratio data.
True False
8. An ordinal level of measurement implies some sort of ranking.
True False
9. Data that can only be classified into categories is measured with a nominal scale.
True False
10. The terms descriptive statistics and inferential statistics can be used interchangeably.
True False
11. A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very good, fair or poor. The level of measurement for this experiment is ordinal.
True False
12. The Union of Electrical Workers of America with......

...Chapter 01
The Fundamentals of Managerial Economics
Multiple Choice Questions
1. | The higher the interest rate:
A. | the greater the present value of a future amount. |
B. | the smaller the present value of a future amount. |
C. | the greater the level of inflation. |
D. | None of the statements associated with this question are correct. |
|
2. | If the interest rate is 10 percent and cash flows are $1,000 at the end of year one and $2,000 at the end of year two, then the present value of these cash flows is:
A. | $2,562. |
B. | $3,200. |
C. | $439. |
D. | $3,000. |
|
3. | Accounting profits are:
A. | total revenue minus total cost. |
B. | total cost minus total revenue. |
C. | marginal revenue minus total cost. |
D. | total revenue minus marginal cost. |
|
4. | Economic profits are:
A. | total revenue minus total cost. |
B. | marginal revenue minus marginal cost. |
C. | total revenue minus total opportunity cost. |
D. | total profits of the economy as a whole. |
|
5. | Which of the following is an implicit cost to a firm that produces a good or service?
A. | Labor costs |
B. | Costs of operating production machinery |
C. | Foregone profits of producing a different good or service |
D. | Costs of renting or buying land for a production site |
|
6. | Which of the following is an implicit cost of going to college?
A. | Tuition |
B. | Cost of......

...diverse design teams increases the risks of conflicts and miscommunication.
AACSB: Diversity
Blooms: Understand
Difficulty: Medium
Learning Objective: 04-13 Assess some of the challenges of service design.
Stevenson - Chapter 04 #1
Topic Area: Global Product and Service Design
2. A ‘House of Quality' is achieved when no department in a single location has more than 15% rejects.
FALSE
The house of quality is a means of integrating the voice of the customer into the product or service development process.
AACSB: Reflective Thinking
Blooms: Remember
Difficulty: Easy
Learning Objective: 04-09 Name several key issues in manufacturing design.
Stevenson - Chapter 04 #2
Topic Area: Other Design Considerations
3. Concurrent Engineering is another term for sequential development.
FALSE
Concurrent engineering involves simultaneous product and production development.
AACSB: Reflective Thinking
Blooms: Remember
Difficulty: Easy
Learning Objective: 04-09 Name several key issues in manufacturing design.
Stevenson - Chapter 04 #3
Topic Area: Designing for Production
4. One of the main advantages of standardization is that it increases the potential variety of products.
FALSE
Standardization reduces the variety of products.
AACSB: Reflective Thinking
Blooms: Understand
Difficulty: Medium
Learning Objective: 04-03 Recognize the key questions of product and service design.
Stevenson - Chapter 04 #4
Topic Area: Other Design......

...Chapter 02
Strategy and Sustainability
True / False Questions
1. | An operations and supply chain strategy must be integrated with the organization's corporate strategy.
True False |
2. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is cost.
True False |
3. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is delivery speed.
True False |
4. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is making the best trade-off.
True False |
5. | The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio is called flexibility.
True False |
6. | The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio it is called straddling.
True False |
7. | By following a straddling strategy, firms can broaden their capabilities and effectively compete with more focused firms in markets requiring low cost for success.
True False |
8. | An order winner is a set of criteria that differentiates the products or services of one firm......

...Chapter 01
The Challenging World of International Business
True / False Questions
1. | All managers need to have a basic knowledge of international business.
True False |
2. | As the term is used in the text, foreign business is business whose activities are carried out across national borders.
True False |
3. | An international company is an organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences.
True False |
4. | A business whose activities are carried out across national borders is known as an international business.
True False |
5. | Foreign business refers to the operations of a company outside its home or domestic market.
True False |
6. | A company headquartered in another country is known as a foreign business.
True False |
7. | The term international business is used to describe an organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences.
True False |
8. | A multidomestic company is an organization that attempts to standardize and integrate operations worldwide in all functional areas.
True False |
9. | The term international company refers to both global and multidomestic companies.
True False |
10. | A global company is an organization that attempts to standardize and integrate......

...Toxic Algae in Lake Erie – There Appears to be More Questions Than Answers
A Review of “Huge toxic algae bloom expected for Lake Erie: Blue-green algae feeding off phosphorus from farm fertilizer that runs into lake”
INTRODUCTION
Blue-green algae blooms continue to be a problem for the ecosystem of Lake Erie and Raj Bejankiwar, a scientist with the International Joint Commission, estimates that there is a 99% chance that algae will once again be an issue this summer. Blue-green algae remove the oxygen from the lake, which contributes to the deaths of other plant and animal life in the lake. Blue-green algae require phosphorus to survive and thrive, and phosphorus has become increasingly available due to the use of large amounts of fertilizer on farms and the subsequent run-off that enters Lake Erie. It is important for farmers to use soil tests and do as much as possible to retain the phosphorus in their soil with minimal leakage. However without laws in place, it is up to individual farmers to decide how they will contribute to decreasing the phosphorus waste. The article’s objective is to provide information on the cause of the blue-green algae boom and indicate certain ways to reduce the excess phosphorus that contributes to the large amount of algae in Lake Erie.
REVIEW
The article, targeted at a general audience, provided the basic information on the issue of blue-green algae and their necessary food source of phosphorus, focusing on fertilizer as the......

...Chapter 01
Introduction
True / False Questions
1. Primary markets are markets where users of funds raise cash by selling securities to funds' suppliers.
True False
2. Secondary markets are markets used by corporations to raise cash by issuing securities for a short time period.
True False
3. In a private placement, the issuer typically sells the entire issue to one, or only a few, institutional buyers.
True False
4. The NYSE is an example of a secondary market.
True False
5. Privately placed securities are usually sold to one or more investment bankers and then resold to the general public.
True False
6. Money markets are the markets for securities with an original maturity of 1 year or less.
True False
7. Financial intermediaries such as banks typically have assets that are riskier than their liabilities.
True False
8. There are three types of major financial markets today: primary, secondary, and derivatives markets. The NYSE and NASDAQ are both examples of derivatives markets.
True False
Multiple Choice Questions
9. What factors are encouraging financial institutions to offer overlapping financial services such as banking, investment banking, brokerage, etc.?
I. Regulatory changes allowing institutions to offer more services
II. Technological improvements reducing the cost of providing financial services
III. Increasing competition from full......

...Chapter 01
What Is Strategy and Why Is It Important?
Multiple Choice Questions
1. | Managers in all types of businesses must address the central strategic question
A. | Where are we now? |
B. | Where do we want to go from here? |
C. | How are we going to get there? |
D. | When will we know we are there? |
E. | All of these |
|
2. | A company's strategy consists of
A. | actions to develop a more appealing business model than rivals. |
B. | plans involving alignment of organizational activities and strategic objectives. |
C. | offensive and defensive moves to generate revenues and increase profit margins. |
D. | competitive moves and approaches that managers have developed to grow the business, attract and please customers, conduct operations, and achieve targeted objectives. |
E. | its strategic vision, its strategic objectives, and its strategic intent. |
|
3. | The competitive moves and business approaches a company's management is using to grow the business, compete successfully, attract and please customers, conduct operations, respond to changing economic and market conditions, and achieve organizational objectives is referred to as its
A. | strategy. |
B. | mission statement. |
C. | strategic intent. |
D. | business model. |
E. | strategic vision. |
|
4. | A company's strategy is most accurately defined as
A. | management's approaches to building revenues, controlling costs,......

...principles or beliefs remain constant and do not change over time. |
| | A) | True |
| | B) | False |
| | | | |
Feedback:Topic: The Nature of Ethics
AACSB: Ethics
Blooms: Remember
Difficulty: Easy
LO: 04-01 Explain the relationship between ethics and the law.
In studying the relationship between ethics and law, it is important to understand that neither laws nor ethics are ﬁxed principles that do not change over time. Ethical beliefs change as time passes; and as they do so, laws change to reflect the changing ethical beliefs of a society. |
|
2 CORRECT | |
Stockholders have a claim on a company. |
| | A) | True |
| | B) | False |
| | | | |
Feedback:Topic: Stakeholders and Ethics
AACSB: Ethics
Blooms: Remember
Difficulty: Easy
LO: 04-02 Differentiate between the claims of the different stakeholder groups that are affected by managers and their companies’ actions.
Stockholders have a claim on a company because when they buy its stock or shares they become its owners. |
|
3 INCORRECT | |
According to the moral rights rule, managers should choose the course of action that best protects and upholds their personal rights. |
| | A) | True |
| | B) | False |
| | | | |
Feedback:Topic: Stakeholders and Ethics
AACSB: Ethics
Blooms: Remember
Difficulty: Medium
LO: 04-03 Describe four rules that can help companies and their managers act in ethical ways.
Under the moral rights rule, managers should......

...Chapter 07
The International Legal Environment: Playing by the Rules
True / False Questions
1. | The form of law found in the United States and England is classified as civil or code law.
True False |
2. | The form of law found in Germany, France, and Japan is called civil or code law.
True False |
3. | Common law is based on an all-inclusive system of written rules of law.
True False |
4. | Under code law, the legal system is generally divided into three separate codes: commercial, civil, and criminal.
True False |
5. | Islamic law prescribes specific patterns of social and economic behavior for all individuals.
True False |
6. | Code law prohibits the receipt and payment of interest on loans.
True False |
7. | In Marxist–socialist societies, law is subordinate to prevailing economic conditions.
True False |
8. | The World Court can settle disputes between a company and a government.
True False |
9. | When dealing with foreign countries, a marketer should refer to “international commercial law” for guidance.
True False |
10. | Disputes relating to commercial transactions must be settled in courts and cannot be settled informally.
True False |
11. | The statements made by the parties during conciliation may be used as evidence in the subsequent litigation.
True False |
12. | If conciliation is not used to settle a......

... Refer to the following table to answer the question. Which of the following statements is true?
A. A and B are complements whereas A and C are substitutes.
B. A and C are complements whereas A and B are substitutes.
C. A and B are complements and A and C are complements.
D. A and B are substitutes and A and C are substitutes.
33. To calculate the total utility of consuming N quantity of a product:
A. add the additional satisfaction of consuming each product up to N and multiply by its price.
B. add the total satisfaction of consuming each product up to N.
C. multiply the additional satisfaction from consuming the Nth product by its price.
D. multiply total satisfaction from consuming N products by N.
34. Suppose one Big Mac gives you a marginal utility of 500 and a second Big Mac gives you a marginal utility of 200. The total utility of buying (and eating) two Big Macs is:
A. 200.
B. 300.
C. 500.
D. 700.
35. Refer to the following table. Fill in the table and answer the following question.
What is the marginal utility of the fourth can of soda?
A. 44 units of utility
B. 10 units of utility
C. 8 units of utility
D. 2 units of utility
36. Refer to the following table. Fill in the table and answer the following question.
What is the total utility of five cans of soda?
A. 6
B. 8
C. 50
D. 44
37. Refer to the following table. Fill in the table and answer the following question: What is the marginal utility of the......